The Mumbai-based startup will use the funds mainly for technology enhancement, brand building and marketing, founder Shaunak Modi told VCCircle.

Modi started Naturenama in January. The startup aims to be the one-stop destination for outdoor travel in India. It will work both as a travel guide and a planner for wildlife and adventure travels. The company’s website is likely to go live next month.

The VC firm last month started its first co-working office, called Unicorn Growth Centre, in Mumbai.

White Unicorn has four associates and 20 individual investors. It is looking to raise a $20-million fund to invest in early-stage startups. It plans to raise the money from institutions instead of wealthy individuals. The firm aims to invest about $5-10 million by the end of this year.

“We have raised the first $5 million from family offices based out of India and have got commitment for another $5 million. For the rest $10 million we are considering investors from Russia, Germany and Silicon Valley and are planning to close the fund by December,” said Rohit Chokhani, principal founder at White Unicorn.

Half the fund will be allocated for cross-border deals while the remaining will invest in startups in real estate technology, software-as-a-service and Internet of Things in India, he added.